Brokerages Set Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) PT at $20.00

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have received an average recommendation of “Hold” from the twelve analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $20.00.

A number of research analysts have recently commented on AVDL shares. Zacks Research upgraded Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wells Fargo & Company increased their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a report on Monday, December 29th.

Avadel Pharmaceuticals Trading Down 1.1%

Shares of AVDL stock opened at $21.39 on Wednesday. The firm has a fifty day moving average price of $21.51 and a 200 day moving average price of $18.95. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $23.57.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. purchased a new position in shares of Avadel Pharmaceuticals during the fourth quarter worth about $27,000. Nisa Investment Advisors LLC boosted its position in shares of Avadel Pharmaceuticals by 164.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after purchasing an additional 2,055 shares during the period. Federated Hermes Inc. grew its stake in Avadel Pharmaceuticals by 195.4% during the 3rd quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after buying an additional 2,296 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Avadel Pharmaceuticals during the 2nd quarter worth approximately $65,000. Finally, Tower Research Capital LLC TRC increased its position in Avadel Pharmaceuticals by 217.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after buying an additional 6,025 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.